What is the key advantage of using a simple survey over a census survey for market analysis? How does segmenting aggregate market demand by consumer group help during market analys... What is the key advantage of using a simple survey over a census survey for market analysis? How does segmenting aggregate market demand by consumer group help during market analysis?
Understand the Problem
The question is asking about the advantages of using a simple survey in market analysis compared to a census survey, along with the implications of segmenting market demand by consumer group.
Answer
A simple survey reduces costs/time; segmentation tailors marketing.
The key advantage of using a simple survey over a census survey is that it reduces costs and time while maintaining accuracy for projections. Segmenting aggregate market demand by consumer group helps tailor marketing efforts to specific segments.
Answer for screen readers
The key advantage of using a simple survey over a census survey is that it reduces costs and time while maintaining accuracy for projections. Segmenting aggregate market demand by consumer group helps tailor marketing efforts to specific segments.
More Information
Conducting a simple survey is typically less costly and quicker than a full census, making it budget-friendly and allowing for faster data collection. Segmenting market demand by consumer groups enables businesses to target their resources and marketing strategies more precisely, improving effectiveness and potentially increasing conversion rates.
Tips
A common mistake is to assume a sample survey is less accurate; with proper design, it can be highly reliable. Also, neglecting to update segmentation could lead to missed opportunities.
Sources
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